AG Mortgage Bank Plc recorded a sharp improvement in its 2025 financial performance, with profit after tax rising by 130 per cent to ₦1.06 billion.

The figures were disclosed at the bank’s 2026 Annual General Meeting, held virtually on September 25.

Gross earnings increased by 42 per cent to ₦4.93 billion in 2025, compared with ₦3.47 billion in the previous year.

Profit before tax also climbed by 89 per cent to ₦1.38 billion, while earnings per share rose from ₦4.59 to ₦10.55.

AG Mortgage Bank Expands Balance Sheet

The bank’s total assets grew by 48 per cent to ₦33.04 billion from ₦22.37 billion in 2024.

Loans and advances increased by 44 per cent to ₦22.71 billion, while customer deposits rose by 14 per cent to ₦9.48 billion.

Shareholders’ funds also strengthened by 17 per cent to ₦7.16 billion.

Managing Director and Chief Executive Officer, Ngozi Anyogu, described the growth in the loan book as particularly significant.

According to Anyogu, the expansion reflected the bank’s increased capacity to deploy funding into mortgage lending while maintaining credit discipline and portfolio quality.

Bank Highlights ₦7.83bn Mortgage Facility

Funding capacity was a major focus of the bank’s presentation to shareholders.

The lender highlighted its ₦7.83 billion Mortgage Refinance and Investment Enhancement Facility (MRIEF), alongside continued access to Federal Mortgage Bank of Nigeria funding for qualifying National Housing Fund lending.

Anyogu said the funding relationships went beyond liquidity, supporting the bank’s participation in programmes designed to expand access to housing finance.

The bank said its product development strategy remains focused on affordable and liveable housing while creating value for customers, employees, shareholders and communities.

Management Emphasises Risk Management

The bank’s board said growth during the year was accompanied by strengthened oversight of credit quality, liquidity, enterprise risk and regulatory compliance.

Management also said its credit risk approach incorporates forward-looking assessments of macroeconomic conditions in line with IFRS 9 requirements.

Chairman of the Board, Rev. Abel Amadi, said the financial results were encouraging despite inflation, elevated interest rates and exchange-rate volatility.

“These results are particularly encouraging because they demonstrate that the Bank was able to achieve meaningful growth while operating within a demanding economic environment,” Amadi told shareholders.

AG Mortgage Bank Proposes ₦50m Dividend

The board recommended a final dividend of ₦50 million, representing ₦0.50 per share.

According to the board, the proposal reflects the bank’s improved performance while preserving its capacity to finance future growth.

AG Mortgage Bank, which marked 21 years of operations in 2026, said its next phase would focus on scale, efficiency, customer reach and sustainable value creation.

The bank also plans to deepen its mortgage business and expand its reach through technology and strategic partnerships.

At the end of the AGM, members of the Audit Committee were re-elected, including Dr. Mark Chigozie, Mr. Monday Ubani and Engr. Eme Tasie.

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COPEN Group has unveiled a 2,000-unit housing development project and launched a new digital platform aimed at simplifying access to housing finance and property ownership for Nigerians.

The announcement was made during the COPEN Brand Showcase, Stakeholder Appreciation and Strategic Housing Engagement 2026, held at the Amadeo Event Centre in Enugu under the theme, “A Home for Every Dream… A House for Every Pocket.”

The event attracted government officials, housing sector stakeholders, financial institutions, faith-based organisations and members of the public.

Speaking at the event, the Group Managing Director of COPEN, Dr. Ugochukwu Chime, unveiled the flagship Spring City Housing Development located at Umuchigbo, Iji Nike, Enugu.

Chime said the project forms part of the company’s long-term strategy to deliver affordable, structured and sustainable housing communities across Nigeria.

According to him, the development will be executed in phases, beginning with the delivery of 400 housing units in the first phase to ensure quality construction and accessibility for prospective homeowners.

He explained that the project is designed to help individuals and families achieve sustainable homeownership while contributing to broader socio-economic development.

The COPEN chief executive acknowledged the support of the Enugu State Government and host communities in facilitating the successful take-off of the housing initiative.

He noted that beyond providing homes, the project is expected to stimulate economic growth, create jobs, support infrastructure development and enhance community development within the area.

As part of efforts to expand access to housing, Chime also unveiled the “Brother-Sister Help Me Own a House” initiative, which encourages collective support and cooperative financing for aspiring homeowners.

The initiative is being supported by key institutions, including the Ministry of Finance Incorporated (MOFI), the Federal Mortgage Bank of Nigeria (FMBN) and AG Mortgage Bank.

Stakeholders, including the Enugu State Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA) and the Ministry of Environment and Climate Change, commended the company’s efforts to deepen mortgage access and promote affordable housing delivery.

A major highlight of the event was the launch of the Urban Home Front Application, a digital platform developed to simplify property subscriptions, documentation processes and mortgage applications through collaboration with partner institutions.

According to COPEN, the platform is expected to reduce bottlenecks in property acquisition and improve access to housing finance for Nigerians.

Participants at the event praised the company’s growing contribution to housing delivery and investment facilitation, citing its record in developing structured residential estates targeted at middle-income earners.

Several partners and clients also shared testimonials, describing the company as credible and reliable in project execution and housing development.

COPEN reaffirmed its commitment to expanding access to affordable housing and promoting inclusive homeownership opportunities in line with its vision of providing “A Home for Every Dream and a House for Every Pocket.”

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AG Mortgage Bank Plc (AGMB) has unveiled an ambitious five-year expansion strategy aimed at delivering one million mortgages by 2030 while targeting a 20 per cent return on equity (RoE) for shareholders, positioning the lender as a major driver of Nigeria’s housing finance transformation.

The plan, branded Project Momentum 2025–2030, outlines AGMB’s transition into a diversified financial services group with interests spanning mortgage banking, housing microfinance, real estate development, insurance, brokerage, and rental housing solutions.

Expansion Strategy and Housing Finance Growth

According to the bank, the strategy is designed to significantly expand its loan portfolio, grow its customer base, and deepen access to affordable and sustainable homeownership across Nigeria.

AGMB disclosed the details in its Q3 2025 Market Intelligence Report (MIR), which analyses economic and sectoral trends shaping Nigeria’s real estate and housing market. The report notes rising investor interest in real estate as a hedge against inflation, supported by easing inflationary pressures and more stable interest rates.

Nigeria’s Real Estate Market Outlook

The report highlights the scale of opportunity within Nigeria’s housing sector, projecting the residential real estate market to be worth $2.25 trillion by 2025. This demand underpins AGMB’s goal of originating one million mortgages within the next five years.

Beyond residential housing, the broader Nigerian real estate market is estimated at $2.61 trillion in 2025, with a projected compound annual growth rate (CAGR) of 6.87 per cent between 2025 and 2029, reaching approximately $3.41 trillion by 2029.

Growth is expected to be driven by rapid urbanisation, infrastructure investment, and ongoing housing policy reforms.

CEO Highlights Strategic Milestone

Speaking on the report, Managing Director and Chief Executive Officer of AG Mortgage Bank Plc, Ngozi Anyogu, described the period as a defining phase for the institution.

“In September 2025, we marked our 20th anniversary—two decades of innovation, resilience, and service to millions of Nigerians,” Anyogu said.

She added that the bank has evolved into a trusted provider of tailored housing finance solutions, with a renewed commitment to long-term value creation through integrity, innovation, and impact-driven growth.

Green Housing and Digital Innovation

As part of its expansion drive, AGMB has introduced new products including treasury solutions for institutional investors, sustainability-focused housing finance products, and digital-first platforms aimed at supporting SMEs and entrepreneurs.

The bank also plans to scale green and climate-resilient housing initiatives, aligning with Nigeria’s sustainability and climate goals.

Sector Performance and Outlook

The Market Intelligence Report shows improving fundamentals across the sector. Nigeria’s construction sector grew by 5.27 per cent in Q2 2025, while real estate contributed 12.80 per cent to GDP, expanding by 3.79 per cent during the period.

Looking ahead, the real estate sector is projected to grow between 6 and 8 per cent in 2025, with residential housing expected to expand at a CAGR of 7.55 per cent, reaching $3.01 trillion by 2029.

Urban population growth—particularly in Lagos, Abuja, and Port Harcourt—continues to fuel demand for affordable housing solutions.

Positioning for Long-Term Impact

With over 20 years of experience in housing finance, AG Mortgage Bank says it is well positioned to convert strong mortgage origination capacity into securitised, investor-grade assets, while expanding access to inclusive, technology-enabled, and sustainable housing nationwide.

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AG Mortgage Bank Plc (AGMB) has announced the activation of its new five-year transformational plan (2025–2030), designed to reposition the institution as Nigeria’s leading housing finance group by 2030 and significantly close the nation’s housing financing gap.

The strategic blueprint, built around five pillars—organisational transformation, sustainable capital base, growth, impact and enhanced shareholder value—aims to expand mortgage access and strengthen the country’s real estate financing framework.

Speaking on the new direction, the Managing Director/CEO of AG Mortgage Bank, Ngozi Anyogu, said the institution is committed to reducing the financial burden faced by Nigerians seeking homeownership.

“As CEO, I am convinced that Nigerians desiring to own homes are making far too many financial trade-offs to achieve their dream. As a leader in affordable mortgage delivery, AGMB must drive a radical performance transformation that benefits consumers,” she said.

Anyogu explained that the bank’s growth strategy, as a national mortgage bank (NMB), includes a bold target of originating one million mortgages by 2030. According to her, this milestone will help create value for investors, expand opportunities for customers, and contribute to reducing Nigeria’s estimated 20 million housing deficit.

She added that the plan focuses on increasing the volume of housing finance while building a more resilient, efficient and technology-driven mortgage system that supports long-term shared prosperity across the real estate value chain.

AG Mortgage Bank emphasised that achieving this vision will not only improve housing affordability but also stimulate economic activities and job creation across the construction and mortgage sectors.

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Despite a persistent housing deficit estimated at over 28 million units, Nigeria’s housing sector contributed more than ₦11 trillion to the country’s Gross Domestic Product in 2024, according to figures cited by AG Mortgage Bank PLC.

Referencing data from the National Bureau of Statistics (NBS), the bank’s Chairman, Felix Nwabuko, highlighted this at the bank’s 2024 Annual General Meeting and 20th Anniversary celebration in Abuja. He noted that the housing sector’s growing economic contribution has been matched by renewed government interest in structural reform and affordability initiatives.

According to Nwabuko, the Federal Government’s Renewed Hope Agenda gained significant traction in 2024, driven by targeted interventions in affordable housing delivery, land titling reforms, and increased collaboration with private-sector players. One notable development, he said, was the expanded adoption of the policy allowing Retirement Savings Account (RSA) holders to access 25% of their pension balances for home equity contributions—an initiative he described as a game-changer in bridging Nigeria’s housing finance gap.

“AG Mortgage Bank PLC continues to play a strategic role in supporting these national housing efforts. The policy that allows RSA holders to access 25% of their pension balances for home equity contributions witnessed higher adoption in 2024. This initiative has continued to narrow the gap in housing financing in Nigeria,” he said.

The bank, he added, is one of the leading administrators of RSA-linked mortgages, enabling more Nigerians to transition from tenants to homeowners. It is also among the early participants in the Help to Own initiative by the Family Homes Fund (FHF), which is gradually pushing mortgage rates toward single digits.

While acknowledging progress, Nwabuko also addressed persistent structural barriers in the mortgage ecosystem. These include limited access to long-term capital, a shortage of affordable housing stock, escalating construction costs, delays in foreclosure processes, and inefficiencies in land administration.

“To unlock scale, our industry must continue pushing for digitised land registries, capital market integration, credit enhancement, and regulatory easing,” he said.

He also called for strategic consolidation within the mortgage sub-sector, citing the need for stronger institutions with sufficient scale and innovation capacity. “All signs are pointing to the inevitability of consolidation, but a leading company will in some way need to emerge with the scale and internal innovation capability to create leading products and drive some acquisitions or scale by organic growth,” he noted.

The remarks underscore the growing relevance of mortgage finance within the broader economic agenda and the need for coordinated reforms to bridge Nigeria’s housing shortfall while sustaining its macroeconomic contributions.

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AG Mortgage Bank Plc, one of Nigeria’s foremost primary mortgage institutions, has celebrated its 20th anniversary in grand style with a colourful gala celebration held at the Continental Hotel, Abuja.

The event brought together industry leaders, pioneers, customers, shareholders, regulators, and other key stakeholders to reflect on two decades of achievements and unveil new products aimed at expanding access to homeownership in Nigeria.

The anniversary programme featured thanksgiving, keynote addresses, goodwill messages, award presentations, and a cultural performance that highlighted Nigeria’s diversity. A major highlight of the evening was the unveiling of the Bank’s latest housing finance products, including Treasury Products, Loan Products, and Sustainability Products tailored to meet the evolving housing needs of Nigerians and ensure long-term sector growth.

Delivering the opening remarks, Chairman of AG Mortgage Bank, Rev. Dr. Abel Amadi, who was represented by Mr. Felix Nwabuko, expressed gratitude to customers, shareholders, and staff for their unwavering support over the years. He noted that the journey of the Bank, which began two decades ago, has been sustained by the trust of stakeholders who believed in its mission of deepening access to affordable housing.

In his remarks, the Managing Director/CEO, Mr. Ngozi Anyogu, described the 20-year journey as a story of resilience, innovation, and shared success. He thanked the pioneers and early investors who took the risk of venturing into a relatively unknown sector and emphasized that their commitment has contributed to the bank’s steady rise as a leader in the mortgage industry.

Mr. Anyogu also highlighted milestones achieved by the Bank, including the financing of thousands of housing units, strategic partnerships with developers across Nigeria’s major cities, and contributions to policy reforms that have shaped the country’s mortgage sector. He further revealed that while AG Mortgage Bank began operations alongside over 200 other institutions, only 30 have survived the Nigerian capital market, with AG Mortgage standing tall as one of the seven with national accreditation.

The anniversary celebration also served as a moment of recognition for those who have played pivotal roles in the Bank’s journey. Long-serving directors, staff, and loyal customers were honoured for their contributions, while the late Pioneer Director, Barr. Danjuma Suleman, was posthumously recognized for his visionary leadership and role in the Bank’s development. His award was received by his family in an emotional moment that drew loud applause from the audience.

Speaking at the event, a Director of the Bank, Rev. Dr. Ugochukwu Chime, praised AG Mortgage Bank’s role in bridging Nigeria’s housing deficit and called for stronger collaboration between mortgage banks, regulators, and government agencies to build a more enabling environment for affordable housing.

Pioneer Director, Amb. Dr. Anthony Ewelike, reaffirmed the Bank’s mission of delivering broad-based mortgage packages to meet the needs of diverse categories of Nigerians.

In the same vein, Executive Director, Dr. Simon Ojonimi, emphasized the Bank’s focus on problem-solving through product innovation and digital transformation, pledging to further strengthen its platforms and expand its range of offerings to meet future demands.

Guests were entertained with a vibrant cultural display that celebrated Nigeria’s rich heritage and underscored the Bank’s commitment to inclusivity and national unity. The evening culminated in the cutting of the anniversary cake, a symbolic act that captured the spirit of celebration and resilience that has defined AG Mortgage Bank’s journey over the past two decades.

As AG Mortgage Bank looks to the future, it has renewed its pledge to remain a catalyst for expanding affordable housing and homeownership opportunities across Nigeria, leveraging innovation, partnerships, and sustainability to drive greater impact in the years ahead.

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As the first mortgage bank in the country to adopt Environmental, Social, and Governance (ESG) principles, AG Mortgage Bank is leading with purpose. Its strategy is aligned with the United Nations Sustainable Development Goals (UN-SDGs). This bold approach was recently recognized when the Central Bank of Nigeria (CBN) approved the bank’s 2024 financials.

The bank’s success is built on strong values. These include Accountability, Godliness, Integrity, Teamwork, Respect, Innovation, and Professionalism known internally as AGITRIP.

These values guide the bank’s decisions and operations. They also support its commitment to transparency and corporate governance. This has helped the bank gain trust and loyalty from the Nigerian public.

AG Mortgage Bank believes in investing in people. It recently trained over 400 National Youth Service Corps (NYSC) members. These sessions focused on financial literacy and environmental awareness.

This training supports SDG 1 (No Poverty) and SDG 8 (Decent Work and Economic Growth). The goal is to empower young Nigerians with practical skills for the future.

In addition, the bank joined hands with TEXEM UK. Together, they hosted a special session in Lagos for students from seven government secondary schools. The theme was “Transforming Nigeria Through Financial Inclusion.” Students received guidance on careers, education, and financial planning. This initiative supports SDG 4 (Quality Education).

Looking ahead, the bank plans to extend this outreach to 15 more schools in the third quarter of 2025.

AG Mortgage Bank is also helping women become financially independent. Through its ES-TIW programme Empowering Sustainable Transformation for Impactful Women the bank is taking action to support SDG 5 (Gender Equality).

Recently, the bank trained women from the Police Women Association in Lagos. They learned about digital tools, financial planning, and how to access microloans. The initiative is part of a larger mission to reach 500,000 women across Nigeria. So far, over 5,000 women have been trained and supported.

These efforts help women build stable businesses and stronger communities.

AG Mortgage Bank plays a key role in shaping Nigeria’s housing future. The bank was a proud sponsor of the Africa International Housing Show. This event brings together leaders and experts to discuss new ideas and better housing policies.

During the event, the bank’s CEO, Ngozi Anyogu, spoke on the topic “From Conversation to Commitment.” The focus was on making real changes in the housing sector. This work supports SDG 11 (Sustainable Cities and Communities).

In a bold move, the bank launched Nigeria’s first Green Mortgage. This product encourages eco-friendly housing projects. It also helps more Nigerians own homes while protecting the environment.

The bank’s dedication to ESG and sustainability has not gone unnoticed. Recently, AG Mortgage Bank received the Rotary Club Award for Humanitarian Services. This award reflects the bank’s deep impact and commitment to social responsibility.

AG Mortgage Bank is more than a mortgage provider. It is a trusted partner in nation-building. Through its commitment to ESG values, education, financial inclusion, and green housing, the bank is shaping a stronger and more sustainable future for Nigeria.

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AG Mortgage Bank plc has successfully concluded the initial segment of its N2 billion tier-2 capital issuance, marking a milestone through its Special Purpose Vehicle, AG Funding SPV Limited.

During the signing ceremony over the weekend, Ngozi Anyogu, the Managing Director of AG Mortgage Bank, underscored the significance of the 17.5 per cent seven-year fixed rate note issuance. Anyogu emphasized that it not only fortifies the bank’s financial position but is pivotal in supporting diverse projects across the nation, aiming to narrow the housing deficit in the country.

“This capital raise significantly enhances our capabilities as a primary mortgage institution and ensures seamless operations in providing mortgage loans and financing for various real estate projects,” remarked Anyogu.

In addressing Nigeria’s housing deficit, Anyogu highlighted the bank’s multifaceted strategy, which involves funding construction on the supply side and stimulating demand by educating the public about the benefits of mortgages while offering convenient payment plans.

READ ALSO: Kenya Mortgage Refinance Company wins Africa Housing Finance Company of the year Award

“We are actively engaged in projects across Lagos, Abuja, Enugu, Port Harcourt, and other regions in collaboration with developers. We anticipate launching several more projects by 2024,” stated Anyogu.

Emphasizing the bank’s commitment to becoming a prominent name in the housing and mortgage sector, Anyogu emphasized extensive collaboration efforts. “Our pipeline projects total around N40 billion, and through extensive collaboration, we aim to bridge the funding gap without relying solely on customer deposits,” affirmed Anyogu.

WealthBridge Capital Partners Limited, acting as the transaction arranger, played a pivotal role in facilitating the issuance. Ahmed Lawal, Group Managing Director at WealthBridge Group, reaffirmed their commitment to supporting AG Mortgage in delivering exceptional services and creating assets for clients in innovative ways.

READ ALSO:Olatunji Mayaki Replaces Asue Ighodalo as Sterling Bank Chairman

Lawal stressed the significance of Public-Private Partnerships (PPPs) in closing Nigeria’s housing gap, urging the government to strengthen collaborations with stakeholders and formulate policies that bolster housing developers while empowering mortgage and financial institutions.

“The Federal Ministry of Housing and Urban Development is making strides in this area. Yet, affordability remains crucial, where institutions like AG Mortgage step in to offer sustainable payment plans for people to own their dream homes,” highlighted Lawal.

Source: Sun newspaper

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The Award was in recognition of the efforts of both Mortgage Banks in effective service delivery and major contributions to the Mortgage Banking Sector all through 2023. Receiving the Awards were representatives from both financial institutions, amidst adulations from dignitaries present.

According to experts, there are growing opportunities in unlocking the potential of Nigeria’s mortgage sector valued at over N6.4 trillion but lack of awareness, accessibility, security, lack of infrastructure and government policy are dampening demand. However, in recent times, Mortgages Banks like AG Mortgage Bank PLC and City Code Mortgage Bank Ltd have continued to take salient steps to further drive the mortgage banking sector.

The Africa Housing Awards 2023 event took place on the 17th of December, 2023 and had in attendance dignitaries and key players in the industry from all over the World. The Awards were given in recognition of the giant strides of excellence of these individuals in their various spheres of influence, further advancing the cause of the Real Estate Industry.

READ ASLO: Mortgage and Real Estate brokers Calls for Easier Access to Mortgages in Nigeria

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